NEW YORK, Jan. 22, 2025 (GLOBE NEWSWIRE) — Reading International, Inc. (NASDAQ: RDI) (“Reading” or our “Company”), an internationally diversified cinema and real estate company with operations and assets in the United States, Australia, and New Zealand, today announced that its global cinema operations achieved several box office records over the November and December 2024 holiday period driven by the release of a variety of Hollywood blockbusters, including Wicked, Moana 2, Gladiator II, Mufasa: The Lion King and Sonic the Hedgehog 3. Our Company’s specialty theaters, trading under the Angelika brand, likewise enjoyed a strong box office from award winning movies like The Brutalist, Anora, The Room Next Door, Queer and A Real Pain.
Our Company’s Australian circuit, trading under the Reading Cinemas (www.ReadingCinemas.com.au) and Angelika (www.AngelikaCinemas.com.au) brands set Box Office Revenue records for both November and December:
- December 2024 was the highest December Box Office result ever, eclipsing the previous record set in December 2019.
- November 2024 was the highest November Box Office result ever.
Reading Cinemas in New Zealand (www.ReadingCinemas.co.nz) captured the following Box Office milestones:
- December 2024 was the highest December Box Office since the pandemic.
- November 2024 was the highest November Box Office since the pandemic.
In the United States, despite our closing of several unprofitable cinemas (eight theaters comprising 52 screens) since January 2019, the Box Office of our Company’s Reading Cinema (www.ReadingCinemas.com), Consolidated Theatre (www.ConsolidatedTheatres.com) and Angelika (www.AngelikaFilmCenter.com) brands achieved the following revenue milestones:
- December 2024 was the highest December Box Office since the pandemic.
- November 2024 was the highest November Box Office since the pandemic.
In Australia, our Company has launched a new Loyalty Program, Reading Rewards, which provides customers the opportunity to earn and redeem points for a range of Ticket and Food & Beverage items. In addition, for AUS$20 a year, customers can upgrade their membership to a Boost tier – offering 15% off Tickets and 10% off Food and Beverage, along with double points and access to Boost member exclusive promotions.
More information on Reading Rewards can be found at www.readingrewards.com.au.
About Reading International, Inc.
Reading International, Inc. (NASDAQ: RDI), an internationally diversified cinema and real estate company operating through various domestic and international subsidiaries, is a leading entertainment and real estate company, engaging in the development, ownership, and operation of cinemas and retail and commercial real estate in the United States, Australia, and New Zealand.
Reading’s cinema subsidiaries operate under multiple cinema brands: Reading Cinemas, Consolidated Theatres and the Angelika brand. Its live theatres are owned and operated by its Liberty Theaters subsidiary, under the Orpheum and Minetta Lane names. Its signature property developments, including Newmarket Village in Brisbane, Australia, and 44 Union Square in New York City, are maintained in special purpose entities.
Additional information about Reading can be obtained from our Company’s website: www.readingrdi.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains a variety of forward-looking statements as defined by the Securities Litigation Reform Act of 1995, including those related to (i) our expectations about the box office and revenues of our global cinema divisions and (ii) our loyalty program in Australia. You can recognize these statements by our use of words, such as “may,” “will,” “expect,” “believe,” “intend” and “anticipate” or other similar terminology.
Given the variety and unpredictability of the factors that will ultimately influence our businesses and our results of operation, no guarantees can be given that any of our forward-looking statements will ultimately prove to be correct. Actual results may differ materially from those indicated in the forward-looking statements and there is no guarantee as to how our securities will perform either when considered in isolation or when compared to other securities or investment opportunities.
Forward-looking statements made by us in this release are based only on information currently available to us and speak only as of the date on which they are made. We undertake no obligation to publicly update or to revise any of our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law. Accordingly, you should always note the date to which our forward-looking statements speak.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, those factors discussed throughout Part I, Item 1A – Risk Factors – and Part II Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations – of our Annual Report on Form 10-K for the most recently ended fiscal year, as well as the risk factors set forth in any other filings made under the Securities Act of 1934, as amended, including any of our Quarterly Reports on Form 10-Q, for more information.
For more information, contact:
Gilbert Avanes – EVP, CFO, and Treasurer
Andrzej Matyczynski – EVP Global Operations
(213) 235-2240
